2x Bitcoin Strategy ETF (BITX)

2x Bitcoin Strategy ETF is trading at $12.31, up 1.61% on the session. The 50 day average sits at $11.98 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 42.6, which reads as weak, and MACD is bearish crossover. Volume is average.

The nearest support is around $11.58 with resistance near $12.57, so that band frames the current range. Average daily movement is roughly $0.55, or about 4.5% of the share price, which is what any stop placement has to allow for. The overall health score of 50 out of 100 combines a trend score of 61, momentum of 28 and a risk score of 62.

The fund is an ETF that seeks to achieve its investment objective by investing its assets principally in cash-settled bitcoin futures contracts that trade only on an exchange registered with the Commodity Futures Trading Commission, which currently is the Chicago Mercantile Exchange, and cash,cash-like instruments or high-quality securities that serve as collateral to the fund’s investments in Bitcoin Futures Contracts. The fund is non-diversified.